When it comes to transferring property ownership, deeds play a crucial role. It is a legal document that transfers real estate ownership from one party to another. Different types of deeds can get used in a property transfer. And it is necessary to understand the differences between them.
If you are looking to transfer property ownership, explore the types of deeds available to ensure you choose the accurate deed transfer service in Napa.
QUITCLAIM DEED
It transfers the ownership of property without any warranties or guarantees. It means that the person transferring the property is not guaranteeing that they actually own the property, nor are they promising that there are no liens or encumbrances on the property. Quitclaim deeds get often used where the property transfer is between family members, or the property is being transferred as a gift.
However, we pull the property’s title and make sure the new deed is prepared accurately, according to your needs. To discover more, visit our about us section!
WARRANTY DEED
A warranty deed assures that the person transferring the property is the rightful owner and has the legal right to transfer ownership. In addition, a warranty deed also guarantees that there are no liens or encumbrances on the property.
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SPECIAL WARRANTY DEED
It is a hybrid between a quitclaim and a warranty deed. It guarantees that the person transferring the property has the legal right to do so, but only for the time they held the property. It means that if there were any issues with the property before they owned it, they are not responsible for those issues.
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GRANT DEED
A grant deed is another type of deed that guarantees that the person transferring the property has the legal right to do so. This type of deed transfer service in Napa gets used in real estate transactions in California.
TRUST DEED
It gets used when the property gets held in a trust. This type of deed transfers property ownership from the trust to another individual. It is important to note that a trustee’s deed is only valid if the trust has the legal right to transfer ownership.
The Final Thought
Understanding the types of deeds available when transferring property ownership is crucial. The right one can ensure the property transfer is legal and valid, while the wrong one can lead to legal issues and complications.
So, explore the different types of deeds available and choose the appropriate deed transfer service in Napa. You can count on LDA Pro Legal for the same! We try to provide a streamlined process to our clients to fulfill their legal document preparation needs quickly and efficiently.
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